Investors should pay attention not only to whether but also to why current holdings are undervalued. It is critical to know why you have made an investment and to sell when the reason for owning it no longer applies. Look for investments with catalysts that may assist directly in the realization of underlying value. Give reference to companies having good managements with a personal financial stake in the business. Finally, diversify your holdings and hedge when it is financially attractive to do so.
But before all else a work of art is the creation of love. Love for the subject first and for the medium second. Love is the fundamental necessity underlying the need to create, underlying the emotion that gives it form, and from which grows the unfinished product that is presented to the world. Love is the general criterion by which the rare photograph is judged. It must contain it to be not less than the best of which the photographer is capable.
When you buy a lottery ticket, you don't know how tickets have been sold. But sold they have been. And there is an underlying distribution for the game.
The weapons laboratory of Los Alamos stands as a reminder that our very power as pattern finders can work against us, that it is possible to discern enough of the universe's underlying order to tap energy so powerful that it can destroy its discoverers or slowly poison them with its waste.
You have very little morally persuasive power with people who can feel your underlying contempt.
But human beings fall easily into despair, and from the very beginning we invented stories that enabled us to place our lives in a larger setting, that revealed an underlying pattern, and gave us a sense that, against all the depressing and chaotic evidence to the contrary, life had meaning and value.
It is attachment to desire, not desire itself, that is the underlying cause of practically all of our pain and suffering.
There is an underlying timelessness in the basic conversation that is mathematics.
Design is a conscious and intuitive effort to impose meaningful order. Design is both the underlying matrix of order and the tool that creates it.
There is only one curriculum, no matter what the method of education: what is basic and universal in human experience and practice, the underlying structure of culture.
The biological factors underlying race differences in sports have consequences for educational achievement, crime and sexual behavior.
The right to be let alone is the underlying principle of the Constitution's Bill of Rights.
I see the underlying economy as being very healthy.
Fundamental analysis seeks to establish how underlying values are reflected in stock prices, whereas the theory of reflexivity shows how stock prices can influence underlying values
The real evil isn't the objects of technology but the tendency of technology to isolate people into lonely attitudes of objectivity. It's the objectivity, the dualistic way of looking at things underlying technology, that produces the evil.
This willingness continually to revise one's own location in order to place oneself in the path of beauty is the basic impulse underlying education. One submits oneself to other minds (teachers) in order to increase the chance that one will be looking in the right direction when a comet makes its sweep through a certain patch of sky.
Hopefully, underlying all my jokes is an element of surprise.
All work flows from some underlying assumptions, and the content of that faith can dramatically change our expectations for our work.
I was also thinking about isolation on an evolutionary scale as well, like when you think of an island like Madagascar where things are free to evolve unfettered by outside powers. That starts to reach into the underlying narrative, which is more of a literal story that I used as a construct to build songs around.
Black-Scholes works for short-term options, but if it's a long-term option and you think you know something [about the underlying asset], it's insane to use Black-Scholes.